Initia Has No Restart Date After Attacker Mints Tokens and Bridges Out $2.7 Million

Anyone holding assets on Initia is waiting on a restart. Initia’s layer 1 and its rollups have been offline since 11:41 a.m. ET on Friday, when the team cited a “security incident,” and it had not said when they would come back as of 5:52 p.m. ET. Initia said in the same notice that it was working “to establish the full scope of any impact with security teams, validators, and exchanges.” Co-founder Zon pointed to Initia’s own software, citing preliminary findings. He wrote that it was “a Day 0 bug related to Initia’s MoveVM on CosmosSDK that allowed the exploiter to mint additional tokens on the Initia L1 but does not apply to native INIT tokens.” The attacker managed to “mint and bridge out ~$2.7m worth of AUSD, ETH, and…

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